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Posted by DKG
- Today at 09:30:02 AMQuote from: Dove on Today at 03:58:31 AMSame. In 2005 I was going through my second divorce.There are so many stories like yours. It was an insane idea under the Clinton administration that the Bush administration foolishly and cowardly continued.
My great aunt sold 6 acres of her property here in Troy for a very high amount of profit and she gave me about 55k as an inheritance (she insisted as I grew up on that property)
So when I was rental shopping for a small place to live and told the rental company that I wanted to just pay off a year lease upon signing it, they went ahead and had me approved for a mortage...and I was like....wtf?!
Yeah sure I could have afforded a down payment but I didn't want that at all. Then what? I have taxes. Insurance. A mortgage I need to keep up with and any costs related to upkeep. Roof. Pipes. All the maintenance. They were trying to talk me into a shit ton of unnecessary stress I didn't want. I was 25 years old. State hopping and moving around like a gypsy and working as a dancer. I was not interested in any solid commitments at all. Especially 30 year long ones with no solid line of income.
I declined and stayed on my plan to just rent.
I had a friend and her and husband went ahead with a home purchase and I cautioned her and she got mad at me. Her husband worked and she didn't and they made under 50k. Guess what happened?
I was right. It turned out horribly for them...they didn't even make it 5 years. She was bad with money on top of everything else. She was a shopaholic and had no sense whatsoever. I love her too death, but we have very different views on money.
I get it. Owning a home is a big deal. But of you can't afford it, that becomes a nightmare real quick and unless you have a safety net to afford a few thousand in emergency repairs or pay several months of mortgage out of savings... and unless you have money left over after bills....you can't afford it. I have another friend whose husband borrowed against his 401k to purchase a home 6 years ago. He is almost 20 years older than her. She has never held a job longer than a year and he makes under 60k and they have 4 children. That makes me nervous for them.
Up until I left my last job I pretty much always had my own car and my own income and I'm never totally comfortable if I don't. I feel trapped and smothered if I don't. I really tried to give that whole stay at home thing a real shot but ultimately it's just not for me. So maybe I get nervous for her due to my own biases. I'm even more productive at home if I have a job....i use my time better.
Even if I married a wealthy man, it's better for me emotionally and spiritually and mentally to get out and work even if it's some bullshit job like I have right now....I feel SO much better all around. Buying gifts for the holidays for a man out of his own bank account never felt good or fun for me either. I hate that shit. I want to buy gifts and do things for him with money I earned.....not "hey honey I'm going to use the money you earned to get your birthday gift!!" .....i hate that shit.
If I were my friend I'd be incredibly nervous about the future. But that's just me, I guess.
Shit my man CAN afford his house. And he still stresses everytime we have a repair man show up. The furnace guy is coming today to change the filter on the furnace and my man is already grumbling about how it's gonna end up costing 10k lol.
Everything costs 10k of course lol.
Posted by Dove
- Today at 04:04:57 AM]
Shhhhh.....
https://youtube.com/shorts/pao9HLSylGE?si=9N1QiE44O2h7IBhF
Quote from: Lab Flaker on November 12, 2024, 03:44:58 PMOh Jesus Christ...I was making fun of you and all your guns that you insist on telling the audience about over and over Al Ka-Pown3d!! Too much blood seems to be supporting that Jewish beak of yours and not circulating your grey matter efficiently.
Shhhhh.....
https://youtube.com/shorts/pao9HLSylGE?si=9N1QiE44O2h7IBhF
Posted by Dove
- Today at 03:58:31 AMQuote from: Lokmar on November 11, 2024, 10:56:06 AMMy wife and I pre-qualified to get a mortgage around 2005 or 2006 and while I cant remember the exact number, when they told us, my wife and I looked at each other like WTF? We knew immediately that if we got anywhere near that number, we'd go bankrupt.
Same. In 2005 I was going through my second divorce.
My great aunt sold 6 acres of her property here in Troy for a very high amount of profit and she gave me about 55k as an inheritance (she insisted as I grew up on that property)
So when I was rental shopping for a small place to live and told the rental company that I wanted to just pay off a year lease upon signing it, they went ahead and had me approved for a mortage...and I was like....wtf?!
Yeah sure I could have afforded a down payment but I didn't want that at all. Then what? I have taxes. Insurance. A mortgage I need to keep up with and any costs related to upkeep. Roof. Pipes. All the maintenance. They were trying to talk me into a shit ton of unnecessary stress I didn't want. I was 25 years old. State hopping and moving around like a gypsy and working as a dancer. I was not interested in any solid commitments at all. Especially 30 year long ones with no solid line of income.
I declined and stayed on my plan to just rent.
I had a friend and her and husband went ahead with a home purchase and I cautioned her and she got mad at me. Her husband worked and she didn't and they made under 50k. Guess what happened?
I was right. It turned out horribly for them...they didn't even make it 5 years. She was bad with money on top of everything else. She was a shopaholic and had no sense whatsoever. I love her too death, but we have very different views on money.
I get it. Owning a home is a big deal. But of you can't afford it, that becomes a nightmare real quick and unless you have a safety net to afford a few thousand in emergency repairs or pay several months of mortgage out of savings... and unless you have money left over after bills....you can't afford it. I have another friend whose husband borrowed against his 401k to purchase a home 6 years ago. He is almost 20 years older than her. She has never held a job longer than a year and he makes under 60k and they have 4 children. That makes me nervous for them.
Up until I left my last job I pretty much always had my own car and my own income and I'm never totally comfortable if I don't. I feel trapped and smothered if I don't. I really tried to give that whole stay at home thing a real shot but ultimately it's just not for me. So maybe I get nervous for her due to my own biases. I'm even more productive at home if I have a job....i use my time better.
Even if I married a wealthy man, it's better for me emotionally and spiritually and mentally to get out and work even if it's some bullshit job like I have right now....I feel SO much better all around. Buying gifts for the holidays for a man out of his own bank account never felt good or fun for me either. I hate that shit. I want to buy gifts and do things for him with money I earned.....not "hey honey I'm going to use the money you earned to get your birthday gift!!" .....i hate that shit.
If I were my friend I'd be incredibly nervous about the future. But that's just me, I guess.
Shit my man CAN afford his house. And he still stresses everytime we have a repair man show up. The furnace guy is coming today to change the filter on the furnace and my man is already grumbling about how it's gonna end up costing 10k lol.
Everything costs 10k of course lol.
Posted by Lokmar
- November 12, 2024, 09:22:47 PM
Posted by Lab Flaker
- November 12, 2024, 08:31:03 PM
Posted by Lokmar
- November 12, 2024, 04:31:59 PMQuote from: Lab Flaker on November 12, 2024, 03:44:58 PMOh Jesus Christ...I was making fun of you and all your guns that you insist on telling the audience about over and over Al Ka-Pown3d!! Too much blood seems to be supporting that Jewish beak of yours and not circulating your grey matter efficiently.
Its KA-POWN3D! dickhead!!!! Well, it may be EL-KAPOWN3D! now....I'm still considering which.
Definitely NOT Al Ka-Pown3d!!!!!!
Posted by Lab Flaker
- November 12, 2024, 03:44:58 PMQuote from: Lokmar on November 12, 2024, 03:28:50 PMYUO seem to be untrainable.
Oh Jesus Christ...I was making fun of you and all your guns that you insist on telling the audience about over and over Al Ka-Pown3d!! Too much blood seems to be supporting that Jewish beak of yours and not circulating your grey matter efficiently.
Posted by Lokmar
- November 12, 2024, 03:28:50 PMQuote from: Lab Flaker on November 12, 2024, 03:27:46 PMAs in Al Capone numb nuts! Ffs!
YUO seem to be untrainable.
Posted by Lab Flaker
- November 12, 2024, 03:27:46 PMQuote from: Lokmar on November 12, 2024, 08:44:25 AMNo, that would be EL KA-POWN3D!!!! FFS!
As in Al Capone numb nuts! Ffs!
Posted by Lokmar
- November 12, 2024, 08:44:25 AMQuote from: Lab Flaker on November 11, 2024, 10:37:20 PMEven better! AL KA-POWN3D!
No, that would be EL KA-POWN3D!!!! FFS!
Posted by DKG
- November 12, 2024, 06:43:14 AMQuote from: Biggie Smiles on November 11, 2024, 10:46:14 AMI agree with you. Mostly. Up till the part where you place all of the blame on banks. That is where we differ slightly. Banks indeed are culpable and were in fact the henchmen which carried out will of their puppet masters.You responded with what I do not have time for this morning. And you did it succinctly.
But they were PLACED in this situation in 1995 by democrat scum via the Community Reinvestment Act of 1995.
This act mandated that banks FIND A WAY to provision loans in low income communities which were estimated to be predominately people of color or face stiff penalties. black and brown People are poor because white people exist! Typical democrat scum mantra.
The government never worked on any of the underlying issues which were causing homes to be unaffordable to these people of color. they instead opted to blame the evil corporate empire and mandated their way out of the issue. But they never told banks HOW they were to lend 300,000.00 over a 360 month term at a 7.25% interest rate to a person making 24K a year and keep the principle, homeowners insurance, PMI, interest and Taxes under the 35% of take home pay threshold.
a 24K annual salary estimates at approximately 1590.00 month when you factor in a conservative state and federal taxation of roughly 19% based on the lower income bracket.
So banks had to devise a way to make a monthly mortgage payment not exceed 1590.00 a month. A number which represents a stark variance from prudent budgetary practices for the common American.
And even THIS number was unattainable given the purchase price, term and ancillary expenses which I listed above.
As any online mortgage calculator will tell you, given the factors I listed above (300,000 / 360 @ 7.25) with modest calculations for taxes, insurance, pmi etc etc you should arrive at a monthly payment of 2,739.
2739.00 exceeds the borrowers total monthly income by 1,149.00. so what does the bank do about that 1,1149.00 ? do they take the loss? Hell to the no. THey were never told to do that. They just tack it on to the tail end of the loan so that the poor borrowers principle goes UP every month instead of down. Commonly known as negative amortization. Thus the birth of the ""balloon mortgage" the term coined because the principle keeps growing and growing and growing until one day the whole thing just pops.
and did the democrats know this would happen? I'd expect they did if they had access to a simple calculator -- but they just didn't care. They didn't care because the common idiots marveled at their accomplishments -- Poor Americans buying their first home!!!! All the talking heads applauded as we on the right, with common fucking sense, shook our heads in horror as to what would inevitably befall the American people.
and in 2008 those chickens finally came home to roost
Posted by Lab Flaker
- November 11, 2024, 10:37:20 PMQuote from: Lokmar on November 11, 2024, 10:17:53 PMKA-POWN3D! you fukin assclown! Dont be throwing stones you drunk roo fucker!
Even better! AL KA-POWN3D!
Posted by JOE
- November 11, 2024, 10:23:54 PMQuote from: Lokmar on November 11, 2024, 10:19:04 PMYou shoulda bought bitcoin years ago.
Anyway, silver wont go below $27/oz.
I shoulda bought google and apple too
Shoulda woulda coulda
Nah i dont have any regrets Lokmeer
If it shoots to the moon let it
If i missed out on it so be it
I still dont ttust bitcoin
Best way to enter that market now is to try mining earning getting paid for a service or bartering nut not buying it with your own money
Remeber what happened to one of the manning brothers
Posted by Lokmar
- November 11, 2024, 10:19:04 PMQuote from: JOE on November 11, 2024, 10:15:05 PMMaybe even lower n that Lokmeer
< $25 Silver is a possibility too
Posted a link in the Gold thread
Everyones selling pm piling into bitcoin right now
However i still dont trust anything that is not real
Personally i think bitcoin is a setup for what is coming - cbdc's
They want us to embrace bitcoin do we will accept electronic money and eventually our privacy
This has slready been done in china snd increasingly in europe
Anyways just my 2 bits
Whats your opinion on bitcoin?
You shoulda bought bitcoin years ago.
Anyway, silver wont go below $27/oz.
Posted by Lokmar
- November 11, 2024, 10:17:53 PMQuote from: Lab Flaker on November 11, 2024, 10:08:58 PMAl KA-PAWNE! You're finally sober dipshit!?
KA-POWN3D! you fukin assclown! Dont be throwing stones you drunk roo fucker!